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一只可爱的猪 · 2020年03月28日

问一道题:NO.PZ2017102901000020

问题如下:

For its fiscal year-end, Sublyme Corporation reported net income of $200 million and a weighted average of 50,000,000 common shares outstanding. There are 2,000,000 convertible preferred shares outstanding that paid an annual dividend of $5. Each preferred share is convertible into two shares of the common stock. The diluted EPS is closest to:

选项:

A.

$3.52.

B.

$3.65.

C.

$3.70.

解释:

C is correct.

Diluted EPS = (Net income)/(Weighted average number of shares outstanding + New common shares that would have been issued at conversion)

= $200,000,000/[50,000,000 + (2,000,000 × 2)]

= $3.70

The diluted EPS assumes that the preferred dividend is not paid and that the shares are converted at the beginning of the period.

- div preferred+div convertible preferred二者抵消,结果为0,分子就只剩NI。

怎么就确定 这两者是可以抵消的呢?

2 个答案

纠纠_品职答疑助手 · 2020年04月21日

优先股在转换之前就是优先股,转换以后才是普通股,一个股票两种身份,两种假设。

纠纠_品职答疑助手 · 2020年03月28日

嗨,爱思考的PZer你好:


这里不是两个dividend抵消。

而是由于优先股是可转换的优先股,在计算Diluted EPS时,我们假设可转换优先股会转成普通股,此时优先股的股利就不会再发放了,和其他普通股享受同样的待遇, 因此优先股的股利就不用从NI中扣除,只留下了NI


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